Shows
Retire Your Way RadioTax Efficiency - Tax Loss Harvesting & Step-up in Basis, EP 060Tim expertly covers the three types of money individuals possess and their corresponding tax implications. He confidently explains that pre-tax accounts and IRAs are subject to regular income tax rates upon realization of gains, while after-tax accounts benefit from the more favorable long-term capital gains and dividends system. Tim emphasizes the importance of tax loss harvesting in offsetting gains and reducing tax liability while cautioning against relying solely on it as a solution for investment losses. Additionally, he expertly explores the potential tax burdens of passing on money in different types of accounts to beneficiaries, highlighting the a...
2023-08-0209 minRetire Your Way RadioHow Social Security & Medicare are Taxed: TIR 201 Part 2, EP 059Tim discusses the taxation of Social Security income in retirement and highlights the provisional income formula, which determines the taxable portion of Social Security based on various factors. He provides examples to illustrate different scenarios and emphasizes the importance of understanding these formulas and thresholds for effective retirement planning. Tim also discusses how adjusted gross income can affect Medicare premiums, also known as Income Related Monthly Adjustment Amount or IRMAA. He shares a cautionary story about potentially paying higher taxes and higher Medicare premiums if you have a sizeable pre-tax retirement account when required minimum distributions begin.
2023-07-2609 minRetire Your Way RadioRMDs & Capital Gains: Taxes in Retirement 201 Part 1, EP 058Changes in RMD ages provide more years for tax planning, allowing individuals to lower their lifetime tax liability. Tim also discusses how capital gains on mutual funds affect taxes in retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/rmds-capital-gains-taxes-in-retirement-201-part-1
2023-07-1907 minRetire Your Way RadioTaxes in Retirement 101, EP 057Understanding how taxes relate to you in retirement is crucial for effective financial planning. By considering the tax implications of different income sources, implementing tax planning strategies, and staying informed about federal and state tax laws, you can make informed decisions that maximize your retirement income and minimize your tax burden. For more information, visit the show notes at https://erwealth.com/podcastblog/taxes-in-retirement-101
2023-07-1207 minRetire Your Way RadioHistory of the Tax Code in The U.S., EP 056The 16th Amendment in 1913 established the federal income tax, evolving into a complex system influenced by economic policies, political agendas, and societal needs. It underwent major revisions and reforms over time, shaping the nation's fiscal landscape. For more information, visit the show notes at https://erwealth.com/podcastblog/history-of-the-tax-code-in-the-united-states
2023-07-0505 minRetire Your Way RadioAre You Sitting on a Retirement Tax Bomb, EP 055What is a retirement tax bomb? This episode covers the problem and how it can lead to an income tax bomb and a Medicare tax bomb. We also discuss the widow's tax and how an income tax bomb can affect your heirs. For more information, visit the show notes at https://erwealth.com/podcastblog/are-you-sitting-on-a-retirement-tax-bomb
2023-06-0713 minRetire Your Way RadioShould I Get an Annuity? EP 054Income annuities and fixed indexed annuities might be better than bonds for retirees, but it depends on your own situation and goals. Let's look at some options. For more information, visit the show notes at https://erwealth.com/podcastblog/should-i-get-an-annuity
2023-05-0311 minRetire Your Way RadioWhat Would You Choose: $100 Billion at 90 or Broke at 20? EP 053In this episode of Retire You Way Radio, we talk about more than just money. We look at the relationship of money, health, and time and how to maximize those resources to create memorable experiences throughout your life. For more information, visit the show notes at https://erwealth.com/podcastblog/100-billion-at-90-or-broke-at-20
2023-04-0511 minRetire Your Way RadioWhat's up with the housing market? EP 052What's up with the housing market, and how is there a housing shortage? Tim Doehrmann, CFP®, answers these questions here and on Retire Your Way Radio. For more information, visit the show notes at https://erwealth.com/podcastblog/whats-up-with-the-housing-market
2023-03-0809 minRetire Your Way RadioHow Will the Secure Act 2.0 Affect Your Retirement? EP 051Parts of the SECURE Act 2.0 go into effect January 1, 2023. There is a lot to unpack, but Tim hits on the highlights and how it will affect your retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/how-will-the-secure-act-20-affect-your-retirement
2023-02-0115 minRetire Your Way RadioHow Tax Planning Boosts Investment Performance, EP 050A good, comprehensive financial advisor can boost investment performance by using tax planning strategies, such as asset location. Here's how. For more information, visit the show notes at https://erwealth.com/podcastblog/how-tax-planning-boosts-investment-performance.
2023-01-0411 minRetire Your Way RadioShould You Consider an Annuity? EP 049On Retire Your Way Radio, Tim Doehrmann, CFP®, talks about annuities and how to decide whether or not to include an annuity in your retirement portfolio. For more information, visit the show notes at https://erwealth.com/podcastblog/should-you-consider-an-annuity.
2022-12-0710 minRetire Your Way RadioShould you Focus on a Social Security Break-even Analysis? EP 048A break-even analysis is useful for comparing investments, but Social Security is not an investment. Social Security is more like an insurance policy. For more information, visit the show notes at https://erwealth.com/podcastblog/social-security-break-even-analysis
2022-09-0709 minRetire Your Way RadioYour 7-figure Retirement Dos and Don’ts, EP 047On Retire Your Way Radio, Tim shares a list of 7-figure retirement dos and don’ts. List lovers will appreciate these 8 tips for a successful retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/your-7-figure-retirement-dos-and-donts
2022-08-0310 minRetire Your Way RadioMoving to a State with Low (or no!) Income Taxes, EP 046Moving to a state with no income tax in retirement sounds great, but what about property taxes, sales taxes, and insurance rates? Move for lifestyle, not taxes! For more information, visit the show notes at https://erwealth.com/podcastblog/moving-to-a-state-with-low-income-taxes
2022-07-0605 minRetire Your Way RadioNew RMD Rules for IRA Beneficiaries, EP 045Tim Doehrmann, CFP®, talks about how proposed guidance from the IRS on required minimum distributions (RMDs) from inherited IRAs could affect you or your heirs. For more information, visit the show notes at https://erwealth.com/podcastblog/new-rmd-rules-for-ira-beneficiaries
2022-06-0107 minRetire Your Way RadioStart Part-time Retirement with a Phased Retirement Plan, EP 044The jump to retirement is a big change after working full time for many years or decades. What if you could phase into it with a part-time retirement? Here's how! For more information, visit the show notes at https://erwealth.com/podcastblog/part-time-retirement-with-phased-retirement
2022-05-0406 minRetire Your Way RadioReduce Taxable Income with Asset Location, EP 043In this episode of Retire Your Way Radio, Tim talks about how asset location can be combined with your desired asset allocation to reduce your taxable income. For more information, visit the show notes at https://erwealth.com/podcastblog/reduce-taxable-income-with-asset-location
2022-04-0611 minRetire Your Way RadioIs the Great Resignation Sustainable? EP 0422021 has been called the Great Resignation as Americans chose to leave their jobs in record numbers. But is the Great Resignation sustainable for retirees? For more information, visit the show notes at https://erwealth.com/podcastblog/is-the-great-resignation-sustainable.
2022-03-0207 minRetire Your Way RadioLiving Abroad in Retirement, EP 041Raise your standard of living for half the cost by living abroad? On Retire Your Way Radio, Tim shares some benefits and tips for living abroad in retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/living-abroad-in-retirement
2022-02-0211 minRetire Your Way RadioIs Social Security REALLY going to run out? EP 040Considering Social Security? On Retire Your Way Radio, Tim gives you the facts beyond the headlines about Social Security being depleted sooner than expected. For more information, visit the show notes at https://erwealth.com/podcastblog/is-social-security-really-going-to-run-out
2022-01-0508 minRetire Your Way RadioWhy Investors Underperform Every Year and How to Improve Returns, EP 039Tim shares a Morningstar study about why investors underperform every year and how to improve your returns. He also ties in how advisors can add value. For more information, visit the show notes at https://erwealth.com/podcastblog/why-investors-underperform-every-year-how-to-improve-returns
2021-12-0108 minRetire Your Way RadioHow will the U.S. Government Pay its Debt? EP 038On Retire Your Way Radio, Tim talks about the U.S. national debt, why the debt ceiling doesn't really matter, and the role of Modern Monetary Theory. For more information, visit the show notes at https://erwealth.com/podcastblog/how-will-us-government-pay-debt
2021-11-0311 minRetire Your Way RadioDo You Feel the Rush to Retire? EP 037Do you feel a rush to retire? On the Retire Your Way Radio podcast, Tim reviews an article about more Americans considering retirement now due to the pandemic. For more information, visit the show notes at https://erwealth.com/podcastblog/do-you-feel-the-rush-to-retire
2021-10-0607 minRetire Your Way RadioPlanning for Long-term Care, EP 036On Retire Your Way Radio, Tim shares how to decide if you can self fund for long-term care and the two types of long-term care insurance with pros and cons. For more information, visit the show notes at https://erwealth.com/podcastblog/planning-for-long-term-care
2021-09-0119 minRetire Your Way RadioMake a Money Mindshift with Maggie Klokkenga, EP 035In this episode of Retire Your Way Radio, Tim interviews Maggie Klokkenga, financial coach and owner of Make a Money Mindshift, and they dive into money mindset. For more information, visit the show notes at: https://erwealth.com/podcastblog/make-a-money-mindshift-with-maggie-klokkenga
2021-08-0421 minRetire Your Way Radio7 Steps for Widows and Widowers in the First Year, EP 034In this episode of Retire Your Way Radio, Tim shares 7 steps for widows and widowers to manage the first year alone, based on estate attorney Anna Byrne's personal and professional experience. For more information, visit the show notes at https://erwealth.com/podcastblog/7-steps-for-widows-and-widowers-in-the-first-year
2021-07-0708 minRetire Your Way RadioFinancial Mistakes Made in 2020, EP 033Tim talks about 4 financial mistakes made in 2020 and 3 general financial mistakes that are not specific to 2020. For more information, visit the show notes at https://erwealth.com/podcastblog/financial-mistakes-made-in-2020
2021-06-0211 minRetire Your Way RadioShould You Use a Robo-advisor? EP032What is a robo-advisor and how do they compare with hiring a comprehensive financial planner? In this episode of Retire Your Way Radio, Tim talks about what a robo-advisor is, how a robo-advisor works, and who may or may not be a good fit for a robo-advisor. For more information, visit the show notes at https://erwealth.com/podcastblog/should-you-use-a-robo-advisor
2021-05-0513 minRetire Your Way RadioUsing Dynamic Distribution for Your Retirement Income Withdrawal Strategy, EP 031In this episode of Retire Your Way Radio, Tim describes how our dynamic distribution strategy with guardrails works to provided on-going retirement income and how we determine how much money you can safely withdraw from your investments in retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/dynamic-distribution-retirement-income-withdrawal-strategy
2021-04-1408 minRetire Your Way RadioStrategies for Social Security Planning, EP 030This week on Retire Your Way Radio, Tim talks about 4 strategies to consider in your Social Security planning process plus what you can do if you are not happy with the Social Security decision you have already made. For more information, visit the show notes at https://erwealth.com/podcastblog/strategies-for-social-security-planning
2021-04-0710 minRetire Your Way RadioThe GameStop Short Squeeze, EP 029In January 2021, a short squeeze of the stock of GameStop and other publicly-traded companies made headlines. Perhaps you heard the term "short squeeze" and wondered what a short squeeze is. Tim talks about what happened to cause the rapid increase in the stock price of GameStop, why it could happen again, and how it doesn’t have to affect your retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/the-gamestop-short-squeeze
2021-03-0311 minRetire Your Way RadioThe Gilded Pandemic, EP 028In this episode, Tim talks about two true and seemingly opposite stories of how American consumers as a whole are in the best financial shape they have ever been in while so many consumers are in the worst financial shape they have ever been in. Then he compares the present time to The Gilded Age in American History. For more information, visit the show notes at https://erwealth.com/podcastblog/the-gilded-pandemic
2021-02-0311 minRetire Your Way RadioHow Biden's Tax Proposals could Affect Your Retirement, EP 027There is a lot of confusion about President-elect Joe Biden’s tax proposals. And with the state of the economy and a likely republican senate, it’s hard to say what tax changes could actually be passed in 2021. Today, Tim highlights some of Biden’s tax proposals and what they could mean for your retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/how-bidens-tax-proposals-could-affect-your-retirement
2021-01-0608 minRetire Your Way RadioMedicare Basics, EP 026Since we specialize in working with clients close to or in retirement, Medicare is often a topic of conversation and always a part of our planning process. Here in episode 26, Tim touches on some of the basics of Medicare. For more information, visit the show notes at: https://erwealth.com/podcastblog/medicare-basics
2020-12-0215 minRetire Your Way RadioTest Your Knowledge about Social Security, EP 025Today we’re going to test your knowledge about Social Security. Social Security is one of those things that most of us don’t think much about until we get close to retirement. Of course, that's only natural! However, Tim is in business to help you put all the pieces together before and when you get to this phase. For more information, visit the show notes at: https://erwealth.com/podcastblog/test-your-knowledge-about-social-security
2020-11-0409 minRetire Your Way RadioDonor Advised Endowment Funds at Morton Community Foundation, EP 024Today we welcome Scott Witzig of Morton Community Foundation to Retire Your Way Radio as our first podcast interviewee. In this interview, Tim asked Scott a few questions about Morton Community Foundation and donor advised endowment funds. For more information, visit the show notes at https://erwealth.com/podcastblog/donor-advised-endowment-funds-morton-community-foundation
2020-10-0714 minRetire Your Way RadioWhat IRA Owners Need to Know About Beneficiaries, EP 023There are several nuances when it comes to inheriting the assets of an IRA. This depends on the relationship of the beneficiary to the IRA owner, whether the IRA was funded with pretax or after-tax money, and whether the account owner was required to take minimum distributions. Tim touches on some of those nuances here as a guide of things to think about when it comes to planning your legacy. However, please consider talking to an estate attorney about your specific situation. For more information, visit the show notes at https://erwealth.com/podcastblog/what-ira-owners-need-to-know-about-beneficiaries
2020-09-0210 minRetire Your Way RadioTax Planning for the Charitably Inclined, EP 022We focus on tax planning here at Eagle Ridge Wealth Advisors. Today Tim covers four ways to use charitable giving to your advantage to reduce your tax liability. For more information, visit the show notes at https://erwealth.com/podcastblog/tax-planning-for-the-charitably-inclined
2020-08-0508 minRetire Your Way RadioEstate Planning Misconceptions, EP 021In this episode, Tim discusses estate planning, including why estate planning is important, common misconceptions about estate planning, and how to get started with estate planning. For more information, visit the show notes at: https://erwealth.com/podcastblog/estate-planning-misconceptions
2020-07-0108 minRetire Your Way RadioThis Market: Believe It or Not, EP 020Tim goes more in depth to explain the“Don’t fight the Fed” line you’ve been hearing in some of our weekly emails. Then he wraps up with a Twitter thread from Peter Mallouk for more clarification on why the markets are bouncing back so well. For more information, visit the show notes at https://erwealth.com/podcastblog/this-market-believe-it-or-not
2020-05-2012 minRetire Your Way RadioWhat Insurance Do You Really Need?, EP 019Today, Tim covers the main types of insurance coverage and how to determine what coverage you need. The types of insurance covered are life, disability, umbrella liability, property and casualty, and long-term care insurance. For more information, visit the show notes at https://erwealth.com/podcastblog/what-insurance-do-you-really-need
2020-04-2215 minRetire Your Way RadioHow to Rehearse or Practice for Retirement Right Now, EP 018In this episode, Tim talks about the difference between a retirement rehearsal and a practice retirement and how either one can be used to help you determine if you are ready for the intangibles that go into retirement. Afterall, it's not just the dollars you need to think about when it comes to retirement. For more information, visit the show notes at https://erwealth.com/podcastblog/how-to-rehearse-or-practice-for-retirement
2020-04-0808 minRetire Your Way RadioUpdate on Current Market Volatility with 3 Action Items, EP 017This week Tim provides an update on the current market volatility, discusses important things to keep in mind during this uncertainty, and shares 3 action items he is recommending to his clients. For more information, visit the show notes at: https://erwealth.com/podcastblog/update-on-current-market-volatility-with-3-action-items
2020-03-1107 minRetire Your Way RadioCoronavirus, The Long Game, and Andy Dufresne, EP 016In this week's episode of Retire Your Way Radio, Tim talks about how to assess the possible impact of the coronavirus (or any future pandemic) on your investment portfolio. He also uses the story of Andy Dufresne from Shawshank Redemption as a great example of playing the long game. For more information, visit the show notes at: https://erwealth.com/podcastblog/coronavirus-the-long-game-and-andy-dufresne
2020-02-1910 minRetire Your Way RadioInvestment Returns and Receiving Value from Your Advisor, EP 015Understanding investment fees is challenging! In this article, Tim discusses why investment fees are traditionally so high, how to think about value in relation to an advisor's fees, and why Eagle Ridge Wealth Advisors is different when it comes to value and transparency. For more information, visit the show notes at https://erwealth.com/podcastblog/investment-returns-receiving-value-from-your-advisor
2020-01-2908 minRetire Your Way RadioThe SECURE Act: What It Means to You, EP 014The SECURE Act has been called the most comprehensive, sweeping retirement security legislation in recent history, and is now the law. But does this act address the massive scale of millions of Americans that are unprepared for their retirement? Let's review seven provisions of The SECURE Act to determine how this act might affect you. For more information, visit the show notes at https://erwealth.com/podcastblog/the-secure-act-what-it-means-to-you
2020-01-1509 minRetire Your Way RadioThe Story of the Mexican Fisherman, EP 013The Story of the Mexican Fisherman has been bouncing around the internet for years in one form or another. It’s been an inspiration to many, that live in the rat race or try to keep up with the Joneses, to slow down, reassess their situations, and really think about the lives they want to live. For more information, visit the show notes at https://erwealth.com/podcastblog/the-story-of-the-mexican-fisherman
2019-12-1805 minRetire Your Way RadioCustody of Assets - Avoiding Bernie Madoff Situations, EP 012There can be quite a bit of confusion over how and where your assets are actually held when you have an investment account in general or when you have an account with a registered investment advisor (RIA) firm like Eagle Ridge Wealth Advisors. This week, Tim covers what a custodian is and does and how to avoid getting Bernie Madoffed! For more information, visit the show notes at: https://erwealth.com/podcastblog/custody-of-assets-avoiding-bernie-madoff-situations
2019-11-2711 minRetire Your Way RadioRetirees Lose Thousands by Claiming Social Security too Early, EP 011This week we dig into Social Security. Optimizing Social Security is one of the biggest value-adds a good advisor can provide to the retirement planning process. Tim talks about why you shouldn't claim Social Security benefits just because you can, how important Social Security is for so many Americans and why the Social Security program isn't going anywhere anytime soon. For more information, visit the show notes at https://erwealth.com/podcastblog/retirees-lose-thousands-by-claiming-social-security-too-early
2019-11-2009 min
Retire Your Way RadioIs the Standard 60/40 Investment Portfolio Dead? EP 010The investment landscape has greatly changed since the 1980s. Economic and societal change along with longer life expectancies are leading to recommendations of a greater allocation to equities if the client's risk tolerance will allow for it. This week Tim summarizes a recent MarketWatch.com article about Bank of America's announcement regarding the end of the 60/40 portfolio. For more information, visit the show notes at https://erwealth.com/podcastblog/is-the-standard-6040-investment-portfolio-dead
2019-11-1306 min
Retire Your Way RadioWill Capital Gains Push Me into a Higher Tax Bracket? EP 009This week we will continue with the theme of tax planning. Tim covers a listener question: Will capital gains push me into a higher tax bracket? Then he gives some thoughts on the financial advice industry as a whole. For more information, visit the show notes at https://erwealth.com/podcastblog/will-capital-gains-push-me-into-a-higher-tax-bracket
2019-11-0610 min
Retire Your Way RadioReducing Taxes Using Roth IRA Conversions, EP 008How to use Roth IRAs for tax planning to reduce lifetime tax liabilities, how to get more money into a Roth IRA using the “backdoor Roth” method and, finally, and how you can use a Roth for college savings. Tim also reminds you about an upcoming in-person retirement workshop in Morton, IL on Nov. 14 & 16, 2019. Blog post URL: https://erwealth.com/podcastblog/reducing-taxes-using-roth-ira-conversions
2019-10-3012 min
Retire Your Way RadioHow Will Impeachment Affect the Stock Market? EP 007Tim talks about the reality of how impeachment proceedings affect the stock market by looking at prior impeachments and the economic forces going on at the time. He also invites you to attend an in-person retirement workshop in Morton, IL in November 2019. Blog post: https://erwealth.com/podcastblog/how-will-impeachment-affect-the-stock-market
2019-10-2307 min
Retire Your Way Radio5 Problems with Dividend Investing, EP 006Tim covers a listener question about dividend investing. He talks about five problems with dividend investing and also a better investment strategy. Check this out before deciding to add more companies to your portfolio that make regular cash payments to their investors. For more information, visit the show notes: https://erwealth.com/podcastblog/problems-with-dividend-investing
2019-10-1610 min
Retire Your Way RadioIPO Update & the High-value Option for Financial Planning, EP 005In an update to a recent episode about initial public offerings, Tim talks about why his opinion about IPOs hasn’t changed by discussing two recent IPO examples. Then, Tim describes why it's important for his firm to be the high value option for financial planning by telling a story about a recent conversation with a prospective client. For more information, visit the show notes at https://erwealth.com/podcastblog/ipo-update-high-value-option-for-financial-planning
2019-10-0906 min
Retire Your Way RadioShould You Buy Long-term Care Insurance? EP 004A discussion on risk management, and particularly whether or not you should buy long-term care insurance to supplement your retirement plan. Tim also discusses the unbelievable story of skydiver Luke Aikins and how he jumped out of a plane at 25,000 feet without a parachute! For more information, visit the show notes at https://erwealth.com/podcastblog/risk-management-long-term-care-insurance-episode-4
2019-10-0208 min
Retire Your Way RadioIPOs Are The Shiny New Toys of Wall Street, EP 003Tim talks about the appeal of investing in Initial Public Offerings (IPOs), the problems with IPOs and why companies do IPOs. Plus, he covers whether or not IPOs should be a part of your investment portfolio and his personal choice of whether or not to invest in IPOs. For more information, visit the show notes at https://erwealth.com/podcastblog/ipos-shiny-new-toys-of-wall-street
2019-09-2708 min
Retire Your Way RadioWhy Are Interest Rates So Low? A Slow Growth World, EP 002The New Paradigm, A Slow Growth World. This episode is inspired by recent conversations Tim had concerning interest rates, inflation, economic growth and why they are all relatively low in historical terms. Tim digs into how the global financial paradigm has changed and why the basic principles of investing can no longer be taken for granted in today’s world. For more information, visit the show notes at https://erwealth.com/podcastblog/negative-interest-rates-and-a-slow-growth-world-episode-2
2019-09-2508 min
Retire Your Way RadioWelcome to Retire Your Way Radio, EP 001Retire Your Way Radio is a podcast hosted by Tim Doehrmann, CFP. In this first episode, Tim talks about how he chose the podcast name, what you can expect in future episodes and why someone would want to work with a fiduciary. He also describes his backstory including how he went from running a hardware store to running his own fiduciary, fee-only, registered investment advisor firm. For more information, visit the show notes at https://erwealth.com/podcastblog/welcome-to-retire-your-way-radio
2019-09-1807 min